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The Chairperson of the Food and Beverages Association of Ghana (FABAG), Mr. John Awuni, has urged the government to initiate a comprehensive national campaign aimed at encouraging Ghanaian traders and service providers to reduce the prices of their goods and services in line with the recent appreciation of the Ghana cedi against the U.S. dollar.
According to him despite the positive gains of the local currency, prices of goods remain stubbornly high across sectors, from market stalls to rental housing, due to what he described as a deeply rooted mindset among Ghanaians.
“very seriously, there is the whole trend, even pepper sellers are talking about dollar. This whole price reduction thing cannot remain within the domain of only food, beverage, and GUTA.” He said.
He disclosed that he has already raised the matter with the Minister of Finance, urging policymakers to treat it with the same urgency as monetary policies and interest rates
“I told the Minister of Finance that just as they take certain monetary policies seriously, they should take this issue just as seriously and embark on a national campaign. The Ghanaian doesn’t have the mindset of reducing prices,” he said
Mr. John Awuni pointed out that even basic necessities like rent continue to escalate arbitrarily, often without justifiable cause.
“You rent a two-bedroom house at GH¢2,000, and the next time it goes up to GH¢3,000. Landlords simply say, ‘If you don’t want it, leave.’ There’s hardly anything that goes down in price in this country. That’s why even women in the markets are struggling to adjust their prices despite the cedi’s appreciation.” He disclosed
In a related development, the General Secretary of FABAG, Mr. Samuel Ato Aggrey, expressed cautious optimism that market forces will eventually lead to price reductions. He predicted that within the next 60 days, more businesses would begin to reflect the stronger cedi in their pricing structures due to competitive pressure and growing public demand.
“As some businesses begin to adjust their prices downward, others will be forced to follow or risk losing customers. It’s a natural economic response, and we believe the trend will pick up as awareness increases.” He said.
Source: Elvisanokyenews.net
